Answer three of the four questions below in 1000 words or, Ask an Expert

Economics

Answer three of the four questions below in 1000 words or fewer using diagrams to illustrate your answers. Each question answered is worth 10% of your overall mark for the module.

a) Using diagrams explain why governments place higher tax rates on products such as petrol and cigarettes.

b) Examine the impacts of rationing on a certain consumer good.

c) Why is the concept of price elasticity of demand of interest to the owner of a travel agent?

d) Discuss the potential impacts a focus on ethical behavior by a firm might have on its profit margins.

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Microeconomics, Economics

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